Robot 6

Superman back on top as Action Comics #1 sells for record $1.5 million

Barely a month after Action Comics #1 and Detective Comics #27 sold for record prices, the first appearance of Superman has broken another barrier.

The Associated Press reports that a copy of the 1938 comic went for $1.5 million this morning on the auction website ComicConnect, jumping past the $1.075-million record price paid on Feb. 25 for a copy of Detective Comics #27. That issue broke a record $1 million paid just three days earlier for another copy of Action Comics #1.

Before last month, the top price paid for a comic was $317,000 in 2009 for — wait for it, wait for it — Action Comics #1.

About 100 copies of the issue are believed to exist, and only a handful of those are in good condition. It has a cover price of 10 cents.

michael

Arthur Fussyboots

Coty

It’s not about “a fool and his money” or owning something you’re never going to use, it’s about owning a piece of freaking history. If that book didn’t exist, nobody would be here on this site. Besides, some people spend the money specifically for the reason of personally preserving it.

MIRACLEFAN

jpbl1976

There’s also the tax credit angle. A convincing argument can be made that Action # 1 should be considered an invaluable work of art and provide the buyer with a tax credit. I wouldn’t be surprised if the buyer were some Wall Street or Hedge Fund dude who a got a good bonus number.

Medieval Mike

Sigh. To think you could have gotten this for around ten grand less than twenty-five years ago. Even if I had the money to spare, I would never spend 1.5 mil on a comic book. But would I SELL one for that much? Yes I would.

You ain’t kidding!
It’s like the rich wall street guys are pointing thier fingers at us going
“Nya nya nya nya! We killed the economy and now were gonna rub it in!”

I’ve been a comic book collector for 30+ years, and remember when The Edgar Church (supposedly a 9.4-9.6 NM/MT) copy of Action Comics 1 went for $25,000 in 1985. And that guy who bought it has TWO copies both over 9.0…

I personally wouldn’t pay more than $500K for that 8.0 book. It’s pretty but NOT worth nearly 1 mil.. This madness has to end. Its like there’s 2-3 guys passing the thing around in this Horrible DEPRESSION.

A) Detective Comics 27 is way rarer in print than AC 1 as it wasn’t advertised as much as AC 1.

B) Action Comics 1 which had THREE printings in 1938 of around 200k copies suffered three fates that make it and most golden-age (1938-1955) comics rare.
Most copies were read and tossed.
The next wave was WW2 paper drive that ate alot of comics up.
The 1954/5 Seduction of the Innocent “senate hearings” that caused mothers to have comic book bonfires.

C) In the 1st edition of Robert Overstreet’s Price guide (1971) AC 1 was only worth $300… Only in the internet age along with professional grading and investors did comics really start to skyrocket. (But only HIGH grade stuff and rare 1st apps 1934-1956)

Comic2read

mark hernandez

I only saw it from the audience, but it looked good. It was not in a bag, this was ’73, and Ellison flipped through it while trying to get someone to bid on it. Looked like it had cover sheen, so I would say VG or better.

Bogbrush

Yes, There is an Action Comics #1 9.0 (NM+) and a 9.4 to 9.6 (NM/MT) Edgar Church (Mile High) Action Comics #1 owned by “The Dentist” from Beverly Hills, CA. BOTH are totally un-restored originals.

Unfortunately he has no intention of selling either copy. He gave his son the 9.0 NM+ copy. I’ve seen the 9.4-9.6 copy back in 1985 IT WAS Like brand new. Perfect gloss, and WHITE Pages. Only thing was a small “EC” for Edgar Church on the top left of the book above the “A” in Action.

Should THAT copy sell, I can easily see it fetching 5-10 mil. But don’t hold your breath. He’s so rich, no amount of $$ would get him to sell it.

Speculating

I, too,have been enjoying this hobby for 30 years plus. Not a dealer but an authentic collector. I have read probably 90 % of my 15, 000 books and am sitting on some 600 first issues from 1938 to 1946 with probably 80 of them in high census condition according to CGC and CGG records. I love this news of record prices. Seems to make all of my years of careful investing a potential profit post retirement despite the best efforts of Wall Street and the US Government to steal all my hard earned money.

I wish everyone great fortune if you have been riding this industry since the mid to late 70’s.

Mystery Man

md lew

i sold a beat up #1 superman recently not knowing the extreme value.never was into comics,i found the copy in a clean out of a jewlers house.they were tossing everything and let us go through some boxes.i assumed it was a fake.

Debra Guizer

nivek greb

im 14 and i have been collecting comics since i was 5. i inherrited by dads thousands of comic books that he collected since he was 5 and the same happened with him and my grandpa. so i have comics from the golden age all the way to the modern age and i would never even if i had the money pay that much for one comic book!